The House of Representatives is expected to vote this week on a proposal to prohibit the Treasury Department from hiring an auto ‘czar’. The measure is part of a larger bill sponsored by Republican Congressman Steve Scalise of Louisiana that would eliminate funding for nine ‘czars’ employed by the White House and other agencies. The [...]
Task force Chairman Ron Bloom told reporters during an industry conference in Michigan today that the U.S. government has no interest in using its stake in General Motors Company to make a social policy such as offering more fuel-efficient cars or limiting auto emissions. He said that the management of General Motors and Chrysler will be [...]
Ed Montgomery, known as President Barack Obama’s ‘car czar’ was in Detroit yesterday to answer questions of some 100 state, local and county leaders on how to get a piece of the $76.7 million in energy and conservation dollars set aside for Michigan in the stimulus package. Gov. Jennifer Granholm said that the need for [...]
President Barack Obama’s administration has dropped the idea of appointing a “car czar” to oversee the automotive industry’s restructuring. Instead, Treasurey Secretary Timothy Giethner and Lawrence Summers, head of the National Economic Council, will together oversee the task force that will deal with the issue. Geithner will be responsible for overseeing the $17.5 billion in [...]
Obama’s auto team has started taking shape. Nothing is official as of yet but sources close to the matter say that Stephen Girsky, a long time auto industry analyst, is the leading candidate to become the ‘car czar’s’ right hand man. Grisky, who is the boss of private-equity firm Centerbridge Industrial Partners has been a former General [...]
